Providence Resources — the Tony O’Reilly Jr-led exploration firm — has announced plans to raise nearly $74m (€66m) in fresh funds via what is, essentially, a company saving share sale.

Troubled Irish explorer Lansdowne Oil and Gas has applied for a resumption of trading in its shares to take effect from Wednesday of this week.

Irish exploration firm Lansdowne Oil and Gas has shelved its sales process after the successful raise of £2.1m (€2.7m), allowing it to pay off debt and meet working capital requirements into next year.

Troubled Irish exploration firm Lansdowne Oil and Gas is seeking shareholder permission to issue new shares in the company in a bid to raise fresh equity to pay off debt and remain afloat.

Troubled Irish exploration firm Lansdowne Oil and Gas has been dealt a fresh blow with the announcement two of its exploration licences in the Celtic Sea have expired following failure to find farm-out partners to further develop the assets.

A costly court ruling yesterday put the spotlight on the terms of the debt deal that Providence Resources struck with Melody Finance late last year, as the Barryroe oil and gas explorer led by Tony O’Reilly Jnr unexpectedly lost a multi-million euro legal dispute with an international drilling company over delays in the Celtic Sea.

US stocks rose for a second day after an encouraging report on retail sales suggested that Americans are finally feeling confident enough to spend more.

Five companies are currently circling Providence Resources as potential development partners for its headline asset, the Barryroe oil and gas field in the Celtic Sea.

Oil giant BP has reached settlements over the Deepwater Horizon rig disaster, resolving years of complicated litigation.

Irish explorer Providence Resources has won a judgment in London’s Commercial Court against having to pay around $19m (€15.5m) in drilling-related costs relating to its headline Barryroe oil and gas field in the Celtic Sea.

BP bears the majority of responsibility among the companies involved in America’s worst offshore oil spill, a federal judge has ruled, citing the energy giant’s reckless conduct in a ruling that exposes the oil giant to billions of dollars in penalties.

A US federal judge has ruled that BP’s reckless conduct resulted in the nation’s worst offshore oil spill, leaving the company open to billions of dollars in penalties.

The US stock market paused today, ending on a mixed note, after a string of records in recent weeks.

The company which leased the Deepwater Horizon rig to oil giant BP has been fined $1.4bn (€1.06bn) after admitting its role in the Gulf of Mexico disaster.

An oil leak spotted in the Gulf of Mexico appears to have come from drilling wreckage on the ocean bed rather than the well that blew in 2010, US scientists and BP said.

BP focused too much on the little details of personal worker safety instead of the big systemic hazards that led to the 2010 Gulf of Mexico oil spill, a US government safety panel has concluded.

BP shares were sharply higher today after its €5.8bn deal with 110,000 businesses and individuals over the Deepwater Horizon disaster.

BP has agreed to settle claims from thousands of fishermen who lost work and others who said they were harmed by the oil giant’s 2010 Gulf of Mexico disaster, the worst offshore oil spill in US history.

A trial over the worst offshore oil disaster in US history has been delayed for a week to allow more time for settlement talks, according to two people close to the case.

Tens of billions of dollars will be at stake when BP heads to a US court this month to determine how much it owes for the massive Gulf of Mexico oil spill and how much it can shift to subcontractors.

A US judge has ruled that Halliburton can avoid paying most of the pollution claims that resulted from the catastrophic Gulf of Mexico oil spill because it was shielded in a contract with well owner BP.

A US federal judge has ruled that the rig owner involved in drilling the ill-fated well that blew out in the Gulf of Mexico was shielded by its contract with BP from having to pay many pollution claims in the nation’s largest offshore oil spill.

BRITISH oil giant BP is pushing the US energy services firm Halliburton, to pay for all the costs BP incurred in the 2010 Gulf of Mexico oil spill.

BP is seeking to shield itself from having to compensate Halliburton for punitive damages, fines and penalties the cement contractor may face for its role in the deadly rig explosion and oil spill in the Gulf of Mexico.

BP has accused Halliburton of destroying damaging evidence about the quality of the cement used in the oil well that blew out last year and caused the worst US offshore oil spill.

BP is accusing Halliburton of destroying damaging evidence about the quality of its cement that went into the Deepwater Horizon well that exploded, killing 11 people and causing America’s worst offshore oil spill.

A KEY US federal report has laid much of the blame on BP for the worst offshore oil spill in US history and the deaths of 11 rig workers — particularly with regard to the cement seal that was put in place the day before the explosion that triggered the spill.

A key US report has laid much of the blame on BP for the massive Gulf of Mexico rig disaster.

Oil giant BP is set to take another battering after a US judge ruled thousands of fishermen and business owners hit by the Gulf of Mexico oil spill disaster could sue for punitive damages, it was reported today.

THE owner of the rig that exploded in the Gulf of Mexico last year has largely blamed oil giant BP for the disaster.

The owner of the rig that exploded in the Gulf of Mexico last year has largely blamed oil giant BP for the disaster.

BP has agreed to provide $1 billion (€686,173) toward initial projects in the Gulf of Mexico to address damage to natural resources from last year’s oil spill, the US Justice Department said.

Relatives flew over Gulf of Mexico waters where 11 oil rig workers died a year ago, residents gathered in prayer vigils onshore and President Barack Obama vowed to hold BP and others accountable for “the painful losses that they’ve caused”.

BP is suing Transocean for at least $40bn (€27bn) in damages, accusing the rig owner of causing last year’s deadly blow-out in the Gulf of Mexico that led to the worst offshore oil spill in US history.

Executives at the offshore drilling contractor at the centre of last year’s Gulf of Mexico oil spill are donating bonuses they got for the company’s safety record last year.

A trapped piece of drill pipe prevented a fail-safe device from stopping last year's massive BP Gulf oil spill, a US government investigation has found.

A former BP drilling operations chief resigned just months before last year's Gulf of Mexico oil spill amid disagreements over the oil giant's commitment to safety, a class-action lawsuit says.

DISASTERS like the explosion of the Deepwater Horizon rig could happen again without significant reform, according to the conclusions of a presidential panel that has the companies involved in the nation’s largest offshore oil spill pointing fingers at each other again.

Mining and banking stocks pulled the FTSE 100 Index into the red today despite strong gains for microchip designer ARM and Marks & Spencer.

The London market pushed ahead today as strong gains for microchip designer ARM and engine manufacturer Rolls-Royce helped offset more retail woe.

Decisions intended to save time and money created an unreasonable risk that triggered the largest offshore oil spill in US history, which could happen again without significant reforms, the top-level panel probing the BP blowout said tonight.

The US government is to sue BP for costs and damages in a bid to recoup billions of dollars after the Gulf of Mexico oil spill.

Oil giant BP too often operated in a rush during the closing days of work on its doomed Gulf of Mexico well, a US presidential inquiry said today.